Economists at TD Securities are still cautious near-term on the EUR/USD pair as the global growth impulse is worsening.

A push to 1.02 will likely cap upside

“We are still cautious on EUR/USD as the global growth impulse continues to downshift.”

“A move below 0.99 should be seen as a confirmation of a return to the downtrend channel, while a push to the 1.02 mark will likely cap upside.”

See: The euro needs growth expectations to shift more than it needs higher rates – SocGen